Elcora Advanced Materials Provides Update Regarding Tanzania Graphite Project
Halifax, Nova Scotia--(Newsfile Corp. - August 1, 2019) - ELCORA ADVANCED MATERIALS CORP. (TSXV: ERA) (FSE: ELM) (OTC: ECORF), (the "Company" or "Elcora"), is pleased to provide an update with respect to the Tanzania joint venture graphite project announced July 11, 2019.
As discussed in a previous announcement Elcora has entered into a ten year (10) joint venture profit sharing agreement with Eminent Minerals' interest in the South Nachu, Tanzania graphite deposit located in Ruangwa, Tanzania. The project is located near two large Graphite Projects; Syrah Resources and Magnis' Nachu. Both high-grade graphite deposits.
Elcora is developing ways to economically extract graphite from the mineralized material. To do that, Elcora is building a pilot plant to process the mineralized material from the Tanzanian graphite project. A pilot plant is being built with the same type of equipment that will be used on location in Tanzania. The pilot plant will be located at Elcora's facility in Bedford, Nova Scotia.
Elcora is currently awaiting delivery of five tons of mineralized material from the Ruangwa mine in Tanzania. Once received the mineralized material will be processed and the graphite extracted (using Elcora's recently built pilot plant). The extracted graphite will then be purified to various grades. Elcora intends to target the expandable graphite market. The expandable graphite market is a large market and is forecast to expand significantly in the future. The expandable graphite market is expected to reach $US 300M by 2025 from 170 Million US$ in 2018. Source: (Mar 22, 2019 Heraldkeeper via COMTEX-- Market Study Report, LLC's latest research report on 'Expandable Graphite market).
Detailed spec sheets for different grades of graphite will be generated. They will be posted on Elcora's website and sent to relevant end users. As an example, spec sheets for the expandable graphite market will include parameters like: particle size distribution, purity and expansion percent (e.g. 400%).
Once the spec sheets are completed Elcora anticipates the buildout of a pilot plant on the Tanzanian site.
Commented Troy Grant CEO, "We are excited by this project. Elcora has been working on refining both graphite and graphene through its Canadian grants, (see Press Release May 28, 2019-Elcora awarded grant from Dalhousie University to develop super capacitors, as well as research and development agreements with Solargise Canada Inc. as noted in Press Release June 10, 2019. This project will facilitate our ability in building a successful vertical integrated graphite company."
About Elcora Advanced Materials Corp.
Elcora was founded in 2011 and has been structured to become a vertically integrated graphite & graphene company. Elcora processes, refines, and produces both graphite & graphene. As part of the vertical integration strategy Elcora is securing high-grade graphite and graphene precursor graphite from operations in Sri Lanka and other countries which are already in production. Elcora has developed a cost-effective process to make high-quality graphite, graphite products and graphene that are commercially scalable. This combination means that Elcora has the tools and resources for graphite and graphene vertical integration.
For further information please visit the company's website at:
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847 F: +1 902 446-2001.
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora's expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46690